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Index Numbers

Question

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What are the desirable properties of the base year.

Solution

Desirable properties the base year :

1. As far as possible, the base year should be a normal year i.e. it should be the one without ups and downs.

2. Extreme values should not be selected as base period.

3. The period should also not belong to too far in the past.

Some More Questions From Index Numbers Chapter

In most of the weighted index numbers the weight pertains to:

The impact of change in the price of a commodity with little weight in the index will be:

A consumer price index measures changes in:

The item having the highest weight in consumer price index for industrial workers is:

In general, inflation is calculated by using:

The item having the highest weight in consumer’s price index for industrial workers is:

consumer price index measures changes in:

The wholesale price index.

D.A. paid to the workers is based on:

Why do we need an index number?

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